The usual order for the asset section of a classified balance sheet is:
A) Current assets, prepaid expenses, long-term investments, intangible assets.
B) Long-term investments, current assets, property, plant and equipment, intangible assets.
C) Current assets, long-term investments, property, plant and equipment, intangible assets.
D) Intangible assets, current assets, long-term investments, property, plant and equipment.
E) Property, plant and equipment, intangible assets, long-term investments, current assets.

Question

Quizplus · Accepted Answer

The usual order for the asset section of a classified balance sheet is current assets, followed by long-term investments, then property, plant and equipment, and finally intangible assets. Prepaid expenses are generally included within current assets. Choice C follows this order correctly.

The Usual Order for the Asset Section of a Classified